Morning Briefing Global Stocks
$DIA, $DAX, $DJSH, $N300, $NSEI
Commentary: DJIA, DAX, and Nifty are facing some corrective dips in here, Shanghai looks Bullish while Nikkei remains indecisive for now. The next 2-3 sessions could give some clarity on further movements in the price indices. PE
DJIA at 21574.73, -0.25% traded slightly lower. 21500-21600 has been Key long term resistance and it would be necessary for the index to make and hold above 21600 in order to continue the rally. While it trades below 21600, there is a chance of a correction towards 21400 or lower near term.
DAX at 12430.39, -1.25% is trading above 1st support near 12380. While 12380 holds, a bounce towards 12800 is possible medium term. On a break below 12380, would shift my focus to 12200 for the coming sessions.
Shanghai at 3215.02, +0.86% rose sharply in the past 2-sessions to my target at 3220. There is room for further rise to 3240-3260 in the coming sessions.
Nikkei at 20025.22, +0.13% is ranged within the 19900-20300 for the past month and continues to consolidate sideways. A rise to 20200 is possible near term. Wait for a break on either side of the range for directional clarity.
Nifty at 9827.15, -0.90% came down from 9900 Tuesday, but could recover in the next few sessions. While trading above 9750, trend remains firmly North, which may be accompanied by some corrective dips.
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